SEC Has Secretly Considered Ethereum a Security Since 2023, Says Consensys in Unredacted Lawsuit - Decrypt
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The order, which Consensys says was approved by the Commission on April 13, 2023, explicitly refers to Ethereum as a security in and of itself, as it authorizes the investigation of “certain securities, including, but not limited to ETH, as to which no registration statement was or is in effect… and
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Summary
🔒 The SEC has secretly considered Ethereum (ETH) a security since 2023, according to Consensys in an unredacted lawsuit.
📜 An order approved by the Commission on April 13, 2023, explicitly refers to ETH as a security, authorizing an investigation into certain securities, including ETH.
🤔 SEC Chair Gary Gensler has avoided explicitly stating the agency's stance on ETH, despite being asked multiple times.
⚖️ The revelation that the SEC has officially considered ETH a security for over a year is significant.
🔍 This news could have implications for the future regulation and classification of cryptocurrencies.
Top Highlights
- The order, which Consensys says was approved by the Commission on April 13, 2023, explicitly refers to Ethereum as a security in and of itself, as it authorizes the investigation of “certain securities, including, but not limited to ETH, as to which no registration statement was or is in effect… and for which no exemption was or is available.”
- The revelation that the SEC has officially considered ETH to be a security for over a year is a remarkable one. SEC Chair Gary Gensler has repeatedly deferred when asked explicitly regarding the agency’s stance on the matter. As recently as last month, Gensler refused to state the SEC’s position when it comes to ETH.
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